This paper analyses a new framework for decision-making in e-democracies that exploits the power of Internet based public knowledge, which is called briefly e-cognocracy. This is not a procedure to improve technical aspects using the Internet (e.g. e-voting); it is rather a procedure to add a...

In the search for a unifying theory in the field of multicriteria decision making, we establish a relationship in the discrete case between two of the most extended multicriteria decision making approaches, namely the Analytic Hierarchy Process (AHP) and the Compromise Programming (CP) Models....

This work extends the AHP-Bayesian Prioritization procedure proposed by the authors for a local context (a single criterion) to a global context (a hierarchy) and presents a taxonomy of criteria that contribute to the ranking of the alternatives. In this global context, the paper defines and...

After the so-called Asia crisis in the summer of 1997 the stock markets were shaken by an increased volatility transmission phenomenon around the world. In this paper we will therefore analyse the daily stock returns in New York, Germany and Japan for a period of 2 years (June 21st, 1996 to June...

In this article a VAR-GARCH-M model for aggregate employment and employment shares is developed in order to explore the macroeconomic effects of sectoral shocks. Using US, UK and German quarterly data sets, the model is estimated and tested against alternative specifications. Three main issues...

Abstract We use a spatial econometric extension of the traditional regression-based gravity model to model commodity flows, focusing on a formal methodology for incorporating information regarding the highway network into the spatial connectivity structure of the spatial autoregressive...

Panel models are popular models in applied sciences and the question of spatial errors has recently created the demand for spatial system estimation of panel models. In this paper we propose new diagnostic methods to explore if and how the spatial components will make significant differences of...

The extended Hodrick-Prescott (HP) method was developed by Polasek (2011) for a class of data smoother based on second order smoothness. This paper develops a new extended HP smoothing model that can be applied for spatial smoothing problems. In Bayesian smoothing we need a linear regression...